What is yLEND protocol ?
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How yLAND Works ?
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yLEND protocol offers a new generation of crypto lending and borrowing protocol with farming opportunities.
To interact with yLEND protocol lenders must deposit funds into liquidity pools, and users can then borrow from these pools. Volatility is hedged by setting assets aside in each pool which ensures that lenders can withdraw their funds whenever they wish to exit the pool.
yLEND will have different cryptocurrencies* available for lending and borrowing for example:
*List is subject to change.
For provided liquidity users will earn standard interested rates and additionally yield earning from farming.
Borrowing will be available on the collateralized amount from provided liquidity. Collateralized amount should be greater than the amount borrowed, this ratio will typically range from 50% to 80%. Borrowers should to maintain collateralization ratio to avoid the liquidation.
Borrowers will also earn daily yield earnings based on the collateralized amount as yLEND tokens. Earned yLEND tokens can be claimed daily, withdrawn and exchanged to other tokens if desired. This creates an opportunity for borrowers to minimize their losses and even pay their debt by yLEND tokens.
$yLEND is a governance token of yLEND protocol. One the core features of $yLEND is the ability to vote for the changes and development of the protocol. User will be able to decide distribution rate of $yLEND tokens, buy back and distribute or buy back and burn rates. All of these features will be programmed into our smart contract, votes will be automatically counted and changes will be made if any.
$yLEND holders will be able to stake their $yLEND holdings and earn profit by locking their funds. There will be a time limit to be able to claim your earned profit. You can exit the pool at any time however earnings cannot be claimed in this case. The vault is designed to incentivize hodling the $yLEND tokens and maintain the sustainable price growth.
yLEND development fund:
yLEND development fund is one of the important part of the project. It is aimed to maintain the success of the project. Initially 500 $eth (1/3) from pre-sale will be locked in the fund. In addition, a portion from the interest rate earning will be directed to the fund. Gradually, users will decide how to use these funds by voting. The main use case will be buying $yLEND tokens from the market and burning or distributing among the protocol users.
yLUSD add on:
Another exciting add on of yLEND protocol will be elastic supply token $yLUSD to maintain sustainable growth of the ecosystem. $yLUSD will follow the Ampleforth elastic supply models and it will expand and contract supply in response to market conditions, to target 1 USD per $yLUSD. As the $yLEND tokens is limited at some time it might be exhausted, so we decided to add this model to the protocol to maximize the earnings of the protocol users and farmers. $yLUSD will be distributed to lenders, borrowers and farmers along with $yLEND tokens as their yield earnings.
This is the second phase of our project and more details will be announced later.
yLEND Protocol Token Distribution ?
Road Map ?
yLEND Protocol is really an Excellent project and purposeful team . This project is the best I’ve ever seen. This project has a bright future. You will get a higher marketing Value. One of the few projects that are attractive for long-term investments. Actually is this is very powerful and popular project from a successful company.This is one of the most ongoing projects in the market at present. Customers are participating in this project with much more interest. Hopefully, those of us who are working on this project will benefit a lot from here.
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